MIHAS 2016 expecting 2pc to 3pc growth in sales

MIHAS recorded RM1.1 billion in sales last year.

According to the Minister of International Trade and Industry (MITI), Datuk Seri Mustapa Mohamed, the estimated growth in sales in expected to be achieved through the participation of 260 Malaysian halal companies and 283 international halal companies in the exhibition. He added that over the past 12 years, MIHAS has generated more than RM11 billion revenue through the exhibition and business matching programmes.

MIHAS will be held from March 28 to April 2, 2016 in Kuala Lumpur Convention Centre in association with World Halal Week (WHW) 2016.

Meanwhile, presenting the overall performance of Malaysia's halal industry, Mustapa said the export revenue for the halal industry in 2014, which is RM38 bilion exceeded the 2020 forecast of RM19 bilion.

Mustapa also mentioned that he is confident the 2015 forecast of RM48 bilion will be achieved.

Adding to that, 218,000 job opportunities were created by the halal industry in 2015.

This was an increase of 5.8 per cent compared to the figures in 2014.

The halal industry is also expected to provide 300,000 job opportunities by 2020.

Other than that, 800 Small and Medium Enterprises (SMEs) that are halal certified have ventured into the export sector in 2015, an increase of 12.5 per cent compared to 2014.

Approaching 2020, 1600 halal certified SMEs are expected to have ventured into the export sector.

Mustapa said that halal certified companies in Malaysia have doubled in five years, from 2336 companies in 2011 to 5726 companies in 2015.

The minister also said that the halal industry can leverage on the Trans-Pasific Partneship Agreement (TPPA) by expanding its business to the countries that are part of the agreement especially New Zealand, Canada, United States and Australia.

He added that this was because these countries are seeing a rise in the Muslim population.

Mustapa said that compared to other countries, Malaysia has the most suitable ecosystem and a diversified industry which makes the country the main player in the halal industry.

"The domestic halal market in Thailand is growing quite rapidly. Brazil continues to be the main importer and exporter of halal products especially food, meat (poultry). This comprehensively is the focus given by other countries in the halal industry.

"However, Malaysia in our view, is the main player of the halal industry," Mustapa said.